RICS Reports European Property Market Strengthens in 2004

Mar 24, 2005

The European Housing Review 2005, published this month by the Royal Institution of Chartered Surveyors (RICS), reports housing markets across Europe have strengthened over the past year. All the standard market indicators including house prices, mortgages and housebuilding have been pointing to strong growth. According to the report, France, Spain and Ireland all maintained double-digit house price inflation rates. The report goes as far as to predict continued growth in 2005 with the possibility of some tapering off toward the end of the year. RICS chief economist, Milan Khatri, said:"..Very low interest rates and increased competitive pressures in the mortgage industry are delivering solid growth in lending, which is likely to continue through much of 2005." The RICS' European Housing Review examines the macroeconomic and demographic influences on the European housing markets providing in-depth analysis. For the first time the report also includes commentary on the 10 new EU accession countries.

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